Suppose price increases from $7.00 to $13.00.Using the mid-point formula,the percentage change in price is:
A) .0.6 = 60 percent.
B) 0.6 = 60 percent.
C) 70 percent.
D) 130 percent.

Question

Quizplus · Accepted Answer

The mid-point formula is used to calculate the percentage change between two values. The formula is:

Percentage change = ((New value - Old value) / ((New value + Old value) / 2)) x 100

Using the given values:

Percentage change = ((13 - 7) / ((13 + 7) / 2)) x 100
Percentage change = (6 / 10) x 100
Percentage change = 60%

Therefore, the correct answer is B, 0.6 = 60 percent.

Suppose Price Increases from $7